Los Gatos auto dealership sites are bought by prolific developer

LOS GATOS — Two Los Gatos sites where luxury and upscale auto dealerships now operate have been bought by a busy real estate firm with a penchant for redeveloping properties in prime locations.

Sand Hill Property, acting through an affiliate, paid a combined $25.4 million for the properties near the corner of Los Gatos Boulevard and Blossom Hill Road, documents filed May 19 with the Santa Clara County Recorder’s Office show.

The two Los Gatos sites are currently occupied by Los Gatos Acura and Los Gatos Luxury Cars, whose brands include Rolls-Royce, Aston Martin, Bentley and Lamborghini vehicles.

Sand Hill Property paid $13.2 million for the Luxury Cars site at 620 Blossom Hill Road and $11.3 million for the Acura parcel at 16151 Los Gatos Blvd, according to the property records.

Acura auto dealership at 16151 Los Gatos Blvd. in Los Gatos.(Meacham Oppenheimer)
Acura auto dealership at 16151 Los Gatos Blvd. in Los Gatos. (Meacham Oppenheimer)

The purchase was arranged through brokers David Taxin and Jeremy Awdisho of Meacham Oppenheimer, a commercial real estate firm.

The Acura dealership is leased to a company controlled by Penske Automotive Group, a firm founded by Roger Penske, an entrepreneur and auto racing executive. Penske is also a retired race car driver.

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